After reaching out to the Play team, their feedback was that though application itself is harmless, and not actually in violation of their Terms of Service, since it 'encourages users to void their warranty', it would not be allowed to remain in the store.

While Google does have somewhat of a point - somewhat, somewhere, hidden deep inside - this is just entirely needless. I'm probably overly paranoid, but what are the chances that Samsung Google's OEM partners applied some pressure? CM is insanely popular, and once you have a taste of proper, crapware, TouchWiz-less Android, you don't want to go back.